Parana Banco

In 1979, the JMalucelli Group founded a financial institution named Paraná Financeira, which initially focused on personal credit and vehicle financing. Operating out of Curitiba, Brazil, the company identified a key opportunity in the 1980s: payroll-deductible loans for civil servants, a segment it pioneered. This strategic focus proved successful, and by 1989, the company received authorization to operate as a multi-service commercial bank, officially becoming Parana Banco S.A. A significant development occurred in 1995 when legislation allowed the bank to formalize agreements directly with the state of Paraná for payroll deduction loans, solidifying its position in this niche market. This specialization became the core of its business. The bank continued to build on this foundation, expanding its services and partnerships. The early 2000s marked a period of significant milestones. In 2007, Parana Banco executed a successful Initial Public Offering (IPO) on the São Paulo Stock Exchange, raising BRL 526 million and becoming a public company. This event provided the capital for further expansion. The following year, the bank launched an American Depositary Receipt (ADR) program, increasing its visibility to international investors. More recently, in 2019, the bank embraced digital transformation by launching a digital investment platform to serve a broader range of investors.